On average, listings lease in the $170's per square foot per year. The Upper West Side submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $8 per sqft per year. That's a 4% decrease in rent.
Compared to the rest of the New York City market, the Upper West Side submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 38 listings have been made available, which means leases most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 34% of the office spaces in the Upper West Side are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 200 sqft. Most buildings in this market are around 5 floors. Most buildings in this area were built in 1920 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this market. Most of the occupants of Upper West Side work from home. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.